Oireachtas Joint and Select Committees

Thursday, 28 March 2019

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

National Surplus (Reserve Fund for Exceptional Contingencies) Bill 2018: Committee Stage

Photo of Michael D'ArcyMichael D'Arcy (Wexford, Fine Gael) | Oireachtas source

We are dealing with the exceptional circumstance of housing provision in the 2019 Estimates, with an investment of €2.4 billion. A higher sum on housing provision has never been spent previously in the State. We do not yet know what form Brexit will take, but we hope and expect the withdrawal agreement to be agreed to, as it has been by 27 Governments in the Council, as well as by the European Parliament. We expect it to be passed by the British Parliament, too, which will bring to 30 the number of bodies that will haved passed it. The only body which has not yet passed it is the House of Commons, but that is a matter for it to conclude, which we hope it will do within the next few days or weeks. We do not yet know that Brexit will be an exceptional circumstance and do not hope or anticipate there will be a no-deal Brexit, but it remains to be seen.

The largest part of the Rebuilding Ireland 2040 plan relates to climate change. We are dealing with circumstances as they arise on the basis of the voted amount in budget 2019 which was published in October 2018. The Deputy stated it was not enough, but I do not want the level of investment to spiral upwards either, as happened before the recession, when we spent more than we had, thus creating a situation where we had to bring in workers to build houses and then had to house those workers. That was a mistake. If we spend more capital in the construction sector, we will have to bring in more workers because currently we do not have enough. Nevertheless, I acknowledge the Deputy's points. Nobody and no political party is not moved by the fact that there are more than 10,000 people in the country who are homeless.

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